i-Pmart Group of Companies which runs an e-commerce website, is adding Bitcoin as a payment option for its mobile phone and computer accessories. Founded by CEO Mart Tang in the year 2001 and it began its operations from its head office in Kuching, Sarawak and soon after that became a leader in the GSM industry and expanded its support offices in Malaysia.
However, the addition of Bitcoin as a payment method for the electronic products according to its customers is going to add further value to the overall profile. When this major Malaysian online mobile phone and electronic parts retailer added Bitcoin to the list of accepted payment methods last week, it gave one more venue where anyone can spend his digital currency.
According to the statement issued by the CEO and founder Mart Tang the company will hold onto the Bitcoins it earns and watch the price rise, rather than convert them into local fiat currency. Thus, it looks like the company is interested in investment and value appreciation for the time being.
Though i-Pmart ships worldwide from outlets in its home country Malaysia, and China and the US, it introduced the option of Bitcoin payment first to the Malaysian site only. Also, it is not yet clear if other groups of the company would accept Bitcoin – there are diversified groups of companies for more than a year now.
Mart Tang cleared that though the initial decision was to allow the Malaysian site to accept Bitcoin, later on it was turned down. Now, the latest decision is that all other i-Pmart sites worldwide will start accepting the digital currency in about 20 days; however, for that the integration process must be complete.
The CEO is the Brain behind the Decision to Accept Bitcoin
When the decision was made by one of the prime ecommerce websites, it was expected that it will be a lot of celebration and hoopla; however, it looks the company wanted it a low-key affair and for that there was no fanfare.
The decision was made entirely by CEO Tang who said that his interest in Bitcoin came from being an IT entrepreneur always searching the internet for the latest tech information and gadgets.
In fact, rather than publicizing it, or even celebrating the announcement with its 730,000+ fans on Facebook, it just added the bare-bones line “We accept Bitcoin.”
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